Pennsylvania credit unions cheer remote notarization law

American Banker

Compliance Mortgages Credit unions Pennsylvania Law and regulationThe CrossState Credit Union Association continues to work with lawmakers in neighboring New Jersey to get similar legislation passed there.

FanDuel Launches Stand-Alone Casino App In Pennsylvania

PYMNTS

Fans of gambling in Pennsylvania will have access to a new stand-alone gambling app with FanDuel Group ‘s newest product, according to a press release. The new incarnation of the Casino app is stand-alone and only available in Pennsylvania thus far, and the release says it will be “secure, legal and fully regulated.” Jesse Chemtob , general manager of Casino with FanDuel Group, said the company is excited to introduce the new expansion in Pennsylvania. “We’ve

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Pennsylvania's easing of rules for donation apps should set a precedent

Payments Source

A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP. ISO and agent Digital payments Compliance Law and regulation Pennsylvania

Citizens Savings Bank Offers Kasasa Cash In 8 Pennsylvania Counties

BankDeals

Citizens Savings Bank offers its Kasasa Cash checking account and Kasasa Saver savings account in eight Northeastern Pennsylvania counties

Pennsylvania’s payment regulation will tighten construction transaction controls nationwide

Payments Source

ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs.

S&T in Pennsylvania begins search for next CEO

American Banker

Growth strategies Succession planning Community banks PennsylvaniaThe company said Todd Brice will retire in March. A search firm will consider internal and external candidates.

F.N.B. in Pennsylvania to close 21 branches

American Banker

The Pittsburgh company also sold a portfolio of indirect auto loans and repaid a large amount of Federal Home Loan Bank borrowings. Revenue and expenses Branch network Auto lending

Pennsylvania bank begins CEO search after leader's abrupt departure

American Banker

Community banking Succession planning Growth strategies PennsylvaniaPatrick O'Brien had been CF Financial's president and CEO for about two years.

Citizens & Northern in Pennsylvania lines up another acquisition

American Banker

Community banking M&A Growth strategies PennsylvaniaThe company, which recently bought Monument Bank, has agreed to acquire Covenant Financial.

Fidelity D & D entering Pennsylvania market with MNB acquisition

American Banker

Community banking M&A Capital Growth strategies PennsylvaniaThe company will gain branches in Northampton County as part of the $79 million deal.

S&T in Pennsylvania discloses potential exposure to check kiting scheme

American Banker

Deposits Fraud Community banking Credit quality Commercial lending PennsylvaniaThe bank is trying to recover millions of dollars in returned deposits. It also has a $14 million loan to the company that allegedly conducted the scheme.

Customers Bancorp in Pennsylvania divesting BankMobile

American Banker

The digital bank would merge with Megalith Financial to create a new publicly traded company that would offer licensed products and services. Digital banking Fintech Community banking M&A

Appeals court clears way for Pennsylvania AG suit against Navient

American Banker

The student loan company had said a three-year-old lawsuit alleging consumer abuses was superseded by a similar CFPB suit. Here’s why the 3rd U.S. Circuit Court of Appeals disagreed. Student loans State regulators Enforcement Consumer banking CFPB

Fulton in Pennsylvania to shutter 21 branches

American Banker

The company joins a growing list of community banks paring back their networks. Branch network Revenue and expenses Community banking

Fulton in Pennsylvania begins cost-cutting effort

American Banker

The company will close branches and cut jobs, with plans to reinvest some of the savings into digital enhancements. Digital banking Earnings Revenue and expenses Branch network

A conversation with Pennsylvania Secretary of Banking and Securities Robin Wiessmann

CFPB Monitor

In this week’s episode, Pennsylvania Secretary of Banking and Securities Robin Wiessmann discusses lessons learned from the 2009 financial crisis and concerns arising from today’s market conditions and regulatory environment, shares her views on the OCC’s fintech charter and provides an update on steps that States are taking to relieve regulatory burdens on fintech companies, and explains her agency’s approach to virtual currency.

Pennsylvania all-stock deal inked

ABA Community Banking

Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management

Univest in Pennsylvania to shutter a fifth of its branches

American Banker

The company will close eight locations, noting that customers have been quick to adopt digital channels during the coronavirus pandemic. Branch network Revenue and expenses Community banking

Pennsylvania bank hit with regulatory order tied to BSA compliance

American Banker

Atlantic Community Bankers Bank must improve its anti-money- laundering and Bank Secrecy Act policies and procedures. AML Community banking Regulatory actions and programs

Orrstown in Pennsylvania to close branches, cut jobs

American Banker

The moves are intended to offset a protracted period of historically low interest rates and expectations of higher credit costs in 2021. Revenue and expenses Branch network Community banking

Pennsylvania Attorney General solicits redlining complaints from consumers

CFPB Monitor

As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”.

Bryn Mawr in Pennsylvania to sell its PPP loans

American Banker

The company said it had cut 20 positions and had found a way to shed 35,000 square feet of office space by the end of 2020. Expense management Paycheck Protection Program Community banks

Pennsylvania bank would more than double assets with first M&A deal

American Banker

The $62.7 million merger of Linkbancorp and Gratz Bank would create a company with over $800 million of assets and nine branches stretching from Harrisburg to the Philadelphia suburbs. C-suite M&A Community banks

AmeriChoice FCU finds next CEO close to home

American Banker

C-suite Credit unions Succession planning Hiring PennsylvaniaThe Mechanicsburg, Pa.-based based institution's newest chief executive most recently served as an executive at another Harrisburg-area credit union.

NexTier in Pennsylvania Lines Up Next Chief

American Banker

NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking

CFPB September 2016 complaint report highlights money transfer complaints, complaints from Pennsylvania consumers

CFPB Monitor

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin.

New Jersey, Pa. credit union foundations to merge

American Banker

Last year, the Pennsylvania Credit Union Association and the New Jersey Credit Union League merged to form the CrossState Credit Union Association, and now the foundations of the two groups are combining. Non-profits New Jersey Philanthropy Pennsylvania

Dollar Bank seeking heft around Pittsburgh with Standard acquisition

American Banker

The mutual bank has agreed to pay $158 million for Standard AVB Financial, which has 17 branches in Pennsylvania. Community banking M&A Growth strategies Pennsylvania

Former Pennsylvania Secretary of Banking Lays Down Ideas on How to Lover Your Regulator

Jeff For Banks

Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week. His subject: How to love your regulator. Glenn is a senior advisor to my firm and I suggested the topic. He rolled with it. Regulator relations is a pressure point in our industry.

NexTier to Buy Manor Bank in Pennsylvania

American Banker

The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy

An Exclusive Interview with Nicholas Smyth, Leader of the Pennsylvania Office of Attorney General’s Consumer Financial Protection Unit

CFPB Monitor

Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies. This is due to the office’s Consumer Financial Protection Unit, which was formed by Attorney General Josh Shapiro in 2017 because of the expectation that the CFPB would become less potent in protecting consumers. The Unit is led by Nicholas Smyth, a former CFPB enforcement lawyer.

Pro-cash laws gathering momentum in N.J., Philadelphia

Payments Source

Retailers Compliance Digital payments Cash New Jersey PennsylvaniaThe pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops.

Bryn Mawr Bank shuts down investment advisory business

American Banker

The Pennsylvania bank incurred $2.3 Revenue and expenses Community banking Wealth management Pennsylvaniamillion in expenses in second quarter after winding down unit BMT Investment Advisers.

Prudential Bancorp to Buy Polonia in Pennsylvania

American Banker

Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year.

BB&T's Dealmaking Spurs Disruption in Pennsylvania

American Banker

At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking